1. GSTR-2 is a purchase return that is to be filed by all the registered person. Tax payers are required to enter the details relevant to their inward supplies in the GSTR 2 purchase return.The purchase details of a specific month should filed before the 15th of the following month. For example, if youRead more

    GSTR-2 is a purchase return that is to be filed by all the registered person. Tax payers are required to enter the details relevant to their inward supplies in the GSTR 2 purchase return.The purchase details of a specific month should filed before the 15th of the following month. For example, if you are filing GSTR2 for the month of April, then you have to file it before the 15th of May. The time period remains same for the inward supplies executed in the month of March i.e, there is no extra time/dyas allowed.

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  2. GSTR-2 is a return containing the details of all the inward supplies. The Input Tax Credit that a taxpayer is eligible to avail is determined on the basis of this return. After the suppliers file GSTR-1, the details of the inward supplies get auto-populated in GSTR-2A.

    GSTR-2 is a return containing the details of all the inward supplies. The Input Tax Credit that a taxpayer is eligible to avail is determined on the basis of this return. After the suppliers file GSTR-1, the details of the inward supplies get auto-populated in GSTR-2A.

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  3. Under GST reconciliation we match the data uploaded by the suppliers with those of the recipient’s purchase data. This includes comparing the GSTR-2A auto-populated from suppliers data and the purchase data recorded by the receiver of the supplies. This reconciliation also ensures that all the transRead more

    Under GST reconciliation we match the data uploaded by the suppliers with those of the recipient’s purchase data. This includes comparing the GSTR-2A auto-populated from suppliers data and the purchase data recorded by the receiver of the supplies. This reconciliation also ensures that all the transactions which took place in a particular period have been recorded.

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  4. Steps for Filing Nil GSTR 2 Return Step 1: Log in to your GST Account on GST portal. Step 2: Select the relevant return filing month. Step 3: Click on auto-drafted GSTR 2A. Step 4: Verify details in the auto-drafted GSTR 2A Step 5: Begin preparing GSTR 2, after verification that there is no auto-popRead more

    Steps for Filing Nil GSTR 2 Return
    Step 1: Log in to your GST Account on GST portal.
    Step 2: Select the relevant return filing month.
    Step 3: Click on auto-drafted GSTR 2A.
    Step 4: Verify details in the auto-drafted GSTR 2A
    Step 5: Begin preparing GSTR 2, after verification that there is no auto-populated data, go to the returns dashboard and click on prepare GSTR 2 online.
    Step 6: Ensure that GSTR 2 return is nil, all data and all sections of the return are nil
    Step 7: Download and preview the GSTR 2 Return.
    Step 8: Submit the NIL GSTR2 Return

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  5. GSTR 1 is a monthly Statement of Outward supplies of goods or services or both filed by the registered person and GSTR 2 return signifies accrual of ITC (Input Tax Credit) from the inputs acquired at some point of the preceding month, a return containing the details of all the inward supplies. The tRead more

    GSTR 1 is a monthly Statement of Outward supplies of goods or services or both filed by the registered person and GSTR 2 return signifies accrual of ITC (Input Tax Credit) from the inputs acquired at some point of the preceding month, a return containing the details of all the inward supplies.

    The time to file GSTR 1 is 10th day of the month, whereas GSTR 2 has to be filed on 15th of the next month.
    GSTR 1 has to be filed by all the taxpayer except the composition scheme taxpayers, Non-Resident Foreign taxpayers, TDS deductor, E-commerce Operators and Input Service Distributors as there are separate returns for them, but GSTR 2 has to be filed by all the registered person.

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  6. No, a return once filed cannot be revised. However, if any mistake is made in the return, then it can be rectified in the GSTR-1 filed for the next period (month/quarter). It means that if a mistake is made in GSTR-1 of May 2021, rectification for the same can be made in the GSTR-1 of june 2021

    No, a return once filed cannot be revised. However, if any mistake is made in the return, then it can be rectified in the GSTR-1 filed for the next period (month/quarter). It means that if a mistake is made in GSTR-1 of May 2021, rectification for the same can be made in the GSTR-1 of june 2021

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  7. Yes, as per the GST law, late fee for not filing GSTR-1 is Rs. 200 per day of delay which is distributed as Rs.100 under the CGST Act and Rs.100 as per SGST Act.

    Yes, as per the GST law, late fee for not filing GSTR-1 is Rs. 200 per day of delay which is distributed as Rs.100 under the CGST Act and Rs.100 as per SGST Act.

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  8. There is no particular step for GST reconciliation, it is a matter of skill and experience, under GST reconciliation we match the data uploaded by the suppliers with those of the recipient’s purchase data. This includes comparing the GSTR-2A auto-populated from suppliers data and the purchase data rRead more

    There is no particular step for GST reconciliation, it is a matter of skill and experience, under GST reconciliation we match the data uploaded by the suppliers with those of the recipient’s purchase data. This includes comparing the GSTR-2A auto-populated from suppliers data and the purchase data recorded by the receiver of the supplies. This reconciliation also ensures that all the transactions which took place in a particular period have been recorded. Also, there are various software’s which provide assistance in the reconciliation process.

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  9. Step 1 – Login to GST Portal. Step 2 – Go to Services. Step 3 – Select the Financial Year and the Return Filing Period from the drop-down. Step 4 – Click on the 'View' button in the tile GSTR-2A. Step 5 – The GSTR2A – auto drafted details is displayed. Step 6 – Under Part A, click on B2B Invoices. SRead more

    Step 1 – Login to GST Portal.
    Step 2 – Go to Services.
    Step 3 – Select the Financial Year and the Return Filing Period from the drop-down.
    Step 4 – Click on the ‘View’ button in the tile GSTR-2A.
    Step 5 – The GSTR2A – auto drafted details is displayed.
    Step 6 – Under Part A, click on B2B Invoices.
    Step 7 – In the pop-up window, click on the yes ‘option’ to proceed further. After the successful acceptance of the invoice details, invoice status will be “R”.

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  10. E-WAY Bill format include - GSTIN of Recipient, Place of Delivery, Invoice or Challan Number,Value of Goods ,HSN Code,Reason for Transportation,Transport Document number.

    E-WAY Bill format include – GSTIN of Recipient, Place of Delivery, Invoice or Challan Number,Value of Goods ,HSN Code,Reason for Transportation,Transport Document number.

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